€43.76m loan signed for 500kV grid station
PHOTO: FILE
The National Transmission and Despatch Company (NTDC) on Friday inked a 43.76-million-euro loan agreement with KfW Bank for financing the construction of 500-kilovolt Chakwal Grid Station.
Apart from this, another grant agreement amounting to 2.4 million euros was also signed, which was provided by the German government for the capacity building in NTDC.
The loan signing ceremony was held at the Economic Affairs Division, Islamabad where KfW Director Sebastian Jacobi, Economic Affairs Division Secretary Dr Kazim Niaz and NTDC MD Dr Rana Abdul Jabbar Khan signed the agreements.
The construction of 500kV grid station in Chakwal will be done on a swathe of land measuring 715.13 kanals. The land has already been acquired and the contractor has been mobilised for the construction of the grid’s boundary wall.
The grid station will not only help in the development of industries by meeting their growing electricity demand, but will also help improve power supply in the surrounding areas of Chakwal district.
Moreover, it will also strengthen the associated NTDC and Islamabad Electric Supply Company (Iesco) networks. The voltage profile improvement will be beneficial especially for the cement industries in Chakwal and will also help generate employment and business opportunities in the area.
Published in The Express Tribune, December 17th, 2022.
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